Four Corners Property Trust (FCPT) Research Coverage Started at Boenning Scattergood

Investment analysts at Boenning Scattergood assumed coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a note issued to investors on Thursday, MarketBeat reports. The firm set an “outperform” rating and a $30.00 price target on the financial services provider’s stock. Boenning Scattergood’s price target would indicate a potential upside of 6.23% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Four Corners Property Trust from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. TheStreet upgraded shares of Four Corners Property Trust from a “c” rating to a “b” rating in a research note on Monday, October 29th.

FCPT opened at $28.24 on Thursday. The stock has a market capitalization of $1.92 billion, a PE ratio of 20.76 and a beta of 0.08. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.95 and a quick ratio of 2.95. Four Corners Property Trust has a twelve month low of $21.28 and a twelve month high of $28.54.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Monday, October 29th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.08). The business had revenue of $36.12 million during the quarter, compared to analysts’ expectations of $36.38 million. Four Corners Property Trust had a return on equity of 13.21% and a net margin of 57.05%. Four Corners Property Trust’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. On average, equities research analysts anticipate that Four Corners Property Trust will post 1.41 EPS for the current fiscal year.

In related news, CFO Gerald R. Morgan sold 3,400 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $27.03, for a total transaction of $91,902.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Eii Capital Management Inc. purchased a new position in Four Corners Property Trust during the third quarter valued at approximately $123,000. Itau Unibanco Holding S.A. purchased a new position in Four Corners Property Trust during the second quarter valued at approximately $166,000. First Trust Advisors LP grew its stake in Four Corners Property Trust by 29.0% during the third quarter. First Trust Advisors LP now owns 12,431 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 2,797 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Four Corners Property Trust during the second quarter valued at approximately $320,000. Finally, Zebra Capital Management LLC purchased a new position in Four Corners Property Trust during the second quarter valued at approximately $348,000. 91.10% of the stock is owned by institutional investors.

Four Corners Property Trust Company Profile

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and related food services industry.

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